The Tranche 3 Bonds are eligible for 80CCF tax benefits, which allow tax exemption on the initial investment up Rs20,000
Infrastructure Development Finance Company has extended the closing date of its long term infrastructure bonds to 21st March.
The Tranche 3 Bonds are being issued in two series, both with buyback options but with different interest payment options. The Tranche 3 Bonds can be subscribed in a lot of two Tranche 3 Bonds of Rs5,000 each and in multiples of one Tranche 3 Bond thereafter. The Tranche 3 Bonds have a maturity of 10 years from the deemed date of allotment. The Tranche 3 Bonds are eligible for 80CCF tax benefits, which allow tax exemption on the initial investment up Rs20,000.
The Tranche 3 Bonds can be bought physically or in demat form. The Bonds will be issued in two series-one with an annual return of 8.25% and the other with a similar return but in a cumulative option and compounded annually. The issue has a lock-in period of five years, post which subscribers can sell the bonds. No trading would be permitted in the Tranche 3 Bonds during the said lock-in period.
After five years, the Bonds will also be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
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